New data management methodologies now allow retailers to take advantage of even the smallest piece of information to generate valuable insights that help optimize their marketing and customer loyalty strategies.
What promotions do we do to get more customers to the point of sale?
How do we make them stay longer in the store?
How do we improve the customer experience so that they buy more at each visit?
Companies with teams dedicated to innovation, organizational structures that allow for agile decision making and that quickly migrated to teleworking, are those that have best adapted to the new commercial reality.
The pandemic brought about a scenario of changes in the business models, the companies had to apply radical changes in an accelerated way in order to successfully face the challenges represented by the changes in people's habits.
Promoting a risk management culture, defining possible scenarios by turning uncertainty into a variable and preparing to safeguard the company's operational continuity are some of the most important strategies for facing the coming year.
The pandemic that generated the spread of covid-19, caused changes in all business sectors and also generated an environment of uncertainty regarding the future of the economy.
Having general ideas of how a computer can look at an image and identify a stop sign, a pedestrian or a car, is fundamental for business leaders to be able to empower humans with the help of artificial intelligence.
The development of artificial intelligence tools suggests that human work will be abolished, something that could be far away, since these technological applications are for now used for the execution of specific business tasks and not for problem solving.
Understanding the economic environment the company is facing, generating projections in real time and having the opinion of external consultants to the organization, are some of the strategies that could help companies in times of low sales.
In Central America, during the first half of the year, some economies reported declines in their productive activity.
Only a few companies are aware of the true impact of a proper strategy and price management on the profitability of the organization.
Ariel Baños, pricing specialist and founder of Fijaciondeprecios.com, explains why it is critical for organizations to control the variable with the most impact on their results, and details the five reasons for implementing a pricing area in companies:
In an increasingly competitive business world, satisfying customers with the service or product that companies sell them, is no longer enough.
Trying to satisfy your customer is always one of the main objectives for companies.However, as the entrepreneur and founder of Virgin Group, Richard Branson says, companies are often not clear on what degree of client satisfaction they aspire to achieve.Do they have low or high expectations?What do they really expect from the product or service they are buying?
Without falling into the bad habit of micro-management, managers should follow the premise of "less deskwork and more walking around the factory."
An article published by the School of Business at the University of Montevideo, points out the need for senior executives and business managers to leave, for short times, the strategic part of their job, in order to be more directly involved in the company's concrete productionprocesses.
"Everything we do in a company to meet the goals of our strategic plan depends directly or indirectly on negotiation processes."
A proposal by Gabriel's Vallone, professor at IEEM, the Business School at the University of Montevideo, suggests that individual negotiating power should be extended in an integral - and in a manner bespoke to for each company- model covering all business prospects and interests of all of the parties involved, both external and internal ones.
At a time when it is more imperative than ever for businesses to attract and retain talent, the people with 50 and more years old are part of a market that offers candidates with skills and experience of great value.
Nowadays the difference between one company and another is the talent its employees bring together, and as any staff manager can tell you, competition for attracting and retaining that talent is growing.
Self control of a leader's ego and being flexible when it comes to enrich ideas with contributions from his or her team can be critical for a company's future.
An employer can be as bright as they are stubborn. Like any good entrepreneur, you're so in love with your idea, and so happy with your project, that this can lead to resistance from hearing about alternative ways of doing things or that your original idea could be improved.
Offering more freedom of action and decision-making can generate more committed employees than an atmosphere of joy and fun.
Using happiness at work as a way of retaining human talent is being questioned.
In principle we must recognize that, given the many factors that can bring this about and personality differences, it is impossible to guarantee complete happiness for all employees in a company.
A comparison between the crisis in the United States in 1929 and the one occurring now in Greece clearly shows that the sooner the costs of an exit from the crisis are assumed, the less time will be spent suffering from the measures taken to overcome it.
EDITORIAL
Obviously some aspects of the current economic tragedy of Greece are different from those suffered by the United States during Twenties of the last century.
Recognized Brazilian company of backhoe loaders, telescopic, articulated and other types of cranes looking for companies interested in representing the brand and distributing their machinery in Central America and Mexico. The company manufactures and sells telescopic,...
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